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Has Elon Musk Damaged His Portfolio by Buying Bitcoin?
- Finnucane 6y agoDoes he even have to care? If he spent his time shoveling cash into a furnace he wouldn't run out any time soon.
- jqpabc123 6y agoWhat makes you think he still owns bitcoin? He may have sold it all once the price moved up 20% following his very public announcement. In regulated markets, this sort of thing is called a "pump and dump".
- rvz 6y agoExactly. I have tried telling them this here and they seem to downvote me very quickly. We don't know what price they bought it at or when they will sold (they might have already). Since they are certainly not 'holding' at that price. All the tweets by Jack, Elon, Chamath and Alexis and the extra media spin have contributed to the Bitcoin pump to these levels. Next stop is always the dump.
- jqpabc123 6y agoI have tried telling them this here and they seem to downvote me very quickly. Don't hurt bitcoin.
- alwillis 6y agoElon doesn’t own $1.5 bitcoin worth of bitcoin; Tesla does. I seriously doubt Tesla is involved in a pump and dump.